Speak Asia COO Tarak Bajpai was detained

New Delhi: Speak Asia COO Tarak Bajpai was detained by the Economic Offenses Wing of the Mumbai police for questioning on Friday. The online survey company hit controversy in a multi-crore scam.

The move comes just two days after CID froze the online survey company's bank accounts.

Bajpai, who is the most prominent face of the online survey company's India operations will be flown from Indore to Mumbai.

Speak Asia is being investigated for a multi-level fraud. FIRs and PILs have been filed against it. The company has maintained that it collects money only for its online magazine and that the survey is just a benefit.

Speaking to CNN-IBN, Kirit Somaiya said that three other officials of speak Asia are likely to be arrested soon.

"Pranab Mukherjee had assured me that strong action would be done at the initial stage so that such frauds do not go on. Hope Pranab Mukherjee gives some assurance in Parliament this session," he said.

Who is Tarak Bajpai?

Tarak Bajpai is the face of Speak Asia's India operations. He mainly handled training, communication with members and hosted the retreat for Speak Asia investors in Goa this year.

The Singapore-based company Speak Asia, which is yet to be incorporated as a company in India, would be inspected under section 591 of the Companies Act, which is applicable on companies incorporated outside India and has established a place of business within the country, sources said.

The company charges a membership fee is Rs 11,000 for a year. The members are expected to conduct online surveys for clients of the firm. Members are paid for conducting the surveys. The company said that it pays Rs 500 for every survey to its member.

A New Popup On Progress...

Dear All,


We all can see a new PopUp On the website.


A Nonmember would not be able to see it as the popup appears once a panelist logs in to the website.


The Popup Has the following Contents

Dear Speak Asians,
We are happy to share the progress and update the status of various activities being done by your company .


1. Establishing a Liaison Office in India ( Process and Current status )
a) Application given to Reserve Bank of India
An application has been filed with the Reserve Bank of India, Mumbai through the bank for requisite permission to open an Liaison office (click for copy). We understand that the applications are considered on case-to-case basis and the permission from Reserve Bank of India generally takes about 4-6 weeks time from the date of submission of application.
b) Registration with Registrar of Companies, New Delhi
Upon receipt of approval from Reserve bank of India, requisite documents have to be filed with Register of Companies for registration of Speak Asia under Companies Act. After scrutiny of documents, the Register of Companies will register the Foreign office and issue the certificate of registration. Thereafter, SpeakAsia can open a bank account and start operation in India. We are trying hard to expedite this activity and will keep you updated on its progress .
NOTE: The payouts from India can only start once bank account is opened and the approvals are given in writing by the authorities.

2. RBI's approval for business model : Further to the order dated 14th July received
from Hon . High Court to RBI for a meeting with Speakasia to understand the business model , we have written yet again to RBI asking for a suitable date vide letter dated 21st July (copy of letter attached). We hope that many issues will get
resolved after this meeting .
3. Distribution of rewards earned by you: The LCD / LED TV's are already lying at
the customs (copy of documents attached). These goods are held up in Customs in Mumbai due to our bank accounts being frozen . We are incurring huge demurrages on the same. The deliveries will start as soon as the goods are released from customs.
4. Interim orders received from Hon. Andhra Pradesh High Court: We have obtained court order for staying any activity by Crime Branch - CID against any of the officials or associates of SpeakAsia (copy of order attached link 1, link 2). We are cooperating with the authorities and ensuring that the business model of SpeakAsia is understood by all.
5. Public Apology by leading national news channel for misrepresenting the facts was aired on 21st July,2011 ( link attached )

Friends , while we want to restart the business as fast as possible, we are constrained by the ongoing activities against us which only delays the entire process. In view of this giving a firm date can be a challenge but we assure you that we are getting closer by the day and working towards the earliest settlement of all issues which have been thrust upon us.
We thank you for your support thus far and hope that you will continue to have faith in your company and wait the business to start as usual. Kindly remember that any activity against your company by anyone (from within or outside) ,only will add to the delay. So be cautious and avoid any misrepresentation or activity that may delay the progress.
With best wishes
Team Speak Asia

New PopUp On Website

Dear Speak Asians,

The wait is over !!!!!!!

Keeping in line with our strategy and as communicated earlier, we proudly present to you our new web-site. This site is our foundation for a 'new age e-commerce platform' designed to fulfill aspirations of an empowered consumer like you.

Operations in India;

As you already know, our application for establishing a permanent establishment in India is awaiting government clearance.We really hope that we get a nod from the Government of India, in the coming weeks.

We did send a few test payments for the panelists and our suppliers for "rewards" in the last 15 days, sadly these amounts were not credited by their banks due to certain precautionary circulars issued by the Reserve Bank of India.

We have already put in process all the necessary actions with the competent authorities for allowing us to resume our normal banking operations.

In the meantime, with launch of this new web-site, you will be able to earn and burn your accrued reward points by buying products and services on the SpeakAsia platform. You will also be able to get subscription codes using your referral income.

Dear friends, this is only the first of the many steps towards realising & fulfilling the dreams that all of us at Speak Asia share. We assure that in the near future you will be given a host of new opportunities to earn and burn your reward points.

Look forward to your continuous support as always.

Thanking you

Team Speak Asia

E-Commerce Started in SpeakAsia

E-Commerce Started in SpeakAsia

Speakasians, the most awaited website in the history of India is now launched.  Please see one of the order details below booked in our team. We are very confident and assured that SAOL will provide us with high quality product and services there after. As per the track record of SAOL, it has never compromised on it's brand value and now 'YUG' will be next Big brand in the market very soon.

 Proud to be SpeakAsian!!

Updates from SpeakAsia Offcials

Updates from SpeakAsia Offcials

We have communicated with SpeakAsia officials and these are the updates from them:

• We are expecting pop up giving complete information about products within next 72 hours.
• Many products to be added by 31^st July for purchase.
• We have got clearance from many govt. agencies and we are expecting to resume our normal operations by 1^st week of august.

SpeakAsia Rocks!!!

New Popup Website Upgrade in process

Today we are seeing a new popup on the website.

Dear Speak Asians,

Warm Greetings !

As you are aware, there will be a transition from the existing website to the completely new look website on Sunday, 10th July, 2011. Due to this transition activity, no surveys will be sent between 6th July – 19th July. The surveys will start coming to you on the new look site from Wednesday i.e 20th July, 2011. An extension of 2 weeks will be given in lieu of the surveys missed during this transition period.

Team Speak Asia

Finally Speakasia Officially Announces the New Website preview

Finally Speakasia Officially Announces the New Website preview.

There Is A New Link Shown On the Website Now A Days


The New Website Preview link is available.

Click To Follow

New Popup On Website

Speak Asia ADs in Banglore near BANNERUGATTA Road

Click To Enlarge

Speak Asia Cannot be controled Syconet

Andhra Pradesh police arrests two agents of Speak Asia

Andhra Pradesh police arrests two agents of Speak Asia

Moneylife Digital Team

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Acting on a complaint filed by an NGO, the AP police have also frozenbank accounts of two franchisees of Speak Asia operating in the state and seized laptops, desktop computers, bank pass books and other material related to their MLM activities 

The Criminal Investigation Department (CID) of the Andhra Pradesh police has arrested two persons running a franchisee of Speak Asia online Pte Ltd and frozen their bank accounts. Vijaywada-based Corporate Fraud Watch Society, a non-government organisation (NGO) had filed a complaint against the company, its promoters, directors, secretaries, representatives, employees and distributors. 

In a statement, Dr Mahender Kumar Rathod, superintendent of police, economic offences wing, CID, Andhra Pradesh, said, "The CID once again appeals to the general public not to believe the deceitful promises given by this type of companies. It is pertinent to say that the amount of Rs3 lakh deposited by the franchise in AP have been frozen by the Reserve Bank of India since the company has no authorisation/registration under the Companies Act." 

Syama Sundar, secretary of the Corporate Frauds Watch Society had filed the complaint, following which the police, arrested D Srinivas Reddy and LVA Swamy on Sunday. Both were operating franchises of Speak Asia in the state. The police also froze their bank accounts and seized their laptops, desktop computers, bank pass books and other material pertaining to MLM activities. The additional chief metropolitan magistrate, Vijaywada, has sent both, Mr Reddy and Mr Swamy to judicial custody. 

On 25th June, the Vijaywada unit of the CID conducted a surprise check under the supervision of deputy superintendent, YV Ramana Kumar, on the residence of Mr Reddy and Mr Swamy. 

The Andhra Pradesh police had registered a case under Section 420 (cheating) of the Indian Penal Code (IPC) and Sections 4, 5 and 6, read with Section 2(c), 3 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. 

In Andhra Pradesh alone, around 30,000 persons were enrolled with Speak Asia. The company has no registration in India under the Companies Act 1956. Likewise, Speak Asia has been running the money circulation business illegally without any authorisation from the competentauthority in India. "This is a bogus company having 150-170 franchises in India, among them the two above mentioned persons are from AP," the police statement said. 

Moneylife has reported on how the Kerala state government is coming down heavily on "get-rich-quick" schemes, mushrooming across the state. The crime branch of the Kerala police had arrested promoters of two such schemes, Tycoon Empire International and Bizarre group of companies. (Read: "Kerala gets tough with money swindlers and MLM companies".) 

One of our readers has informed that as part of its ongoing operation to curb dubious MLM schemes, the Kerala police banned the meeting of Amway, a popular MLM company. According to the reports, about 300distributors of Amway had gathered at a hotel in Thrissur. However, the police declined to give them any permission for a meeting. The Kerala director general of police has also cautioned people against the illegal network marketing.

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Speakasia washes its hand from the scheme that promised return of Rs 4000

Dainik Bhaskar 27th June 2011 2nd Page 
11 हजार की स्कीम कभी लॉन्च ही नहीं की : स्पीक एशिया

रायपुर.ऑनलाइन बिजनेस का दावा करने वाली स्पीक एशिया ने 11 हजार जमाकर हर महीने 4-4 हजार रुपए लौटाने की योजना से पूरी तरह से पल्ला झाड़ लिया है।

कंपनी के सीईओ तारक बाजपेयी ने रविवार को राजधानी में आयोजित कार्यक्रम में दो टूक शब्दों में कहा कि इस तरह की स्कीम कंपनी ने कभी लांच ही नहीं की थी। कंपनी के अधिकृत बयान के बाद यह बात लगभग साफ हो गई है कि स्कीम में 50 करोड़ रुपए से ज्यादा रकम लगाने वाले हजारों लोगों की रकम डूब गई है।

रविवार को शहीद स्मारक में कंपनी के सीईओ तारक बाजपेयी ने निवेशकों से सीधे बात की। उन्होंने कहा कि कंपनी का केवल ऑनलाइन बिजनेस का काम है। जुलाई से कंपनी नया बिजनेस शुरू करने वाली है। इस के लिए ऑनलाइन ट्रेनिंग की शुरुआत की गई थी। इसमें 11 हजार रुपए देने के बाद हर महीने सेलरी के तौर पर चार हजार रुपए वापस किए जाते थे। यह निवेश वाली योजना नहीं थी।

जो मेहनत करेगा, उसे पैसा मिलेगा

कंपनी के सीईओ और सेमिनार के मुख्य वक्ता तारक बाजपेयी ने बताया कि कंपनी का ऑनलाइन शॉपिंग प्रोग्राम एमवे, युरेका फोब्र्स, आरएमसी आदि कंपनियों जैसा होगा। इसमें मेंबरों को कंपनी की ओर से उपलब्ध करवाए गए प्रोड्क्टस की बिक्री करनी होगी।

बिक्री के आधार पर उन्हें कमीशन दिया जाएगा। निवेशकों को जानकारी देने के लिए कंपनी की ओर से प्रदेश के सभी जिलों में इस तरह के सेमिनार आयोजित किए जाएंगे। रविवार की शाम को ही दुर्ग में भी इस तरह का सेमिनार आयोजित किया गया।

हर सवाल का जवाब

दोपहर लगभग 2 बजे तक चले सेमिनार में निवेशकों ने कंपनी के अधिकारियों से खुले मंच में कई तरह के सवाल-जवाब किए।

सवाल: कंपनी रुपए लेकर फरार है?

जवाब: कंपनी भाग गई है तो हम यहां मंच पर क्या कर रहे हैं।

सवाल: हर महीने चार हजार रुपए क्यों नहीं आ रहे हैं?

जवाब: कंपनी ने ऐसी स्कीम लांच ही नहीं की है। 11 हजार रुपए ट्रेनिंग देने के एवज में लिए गए थे, जिसे हर माह सैलरी के रूप में वापस किया गया।

सवाल: लाखों रुपए निवेश करने वालों को क्यों नहीं बताया गया कि केवल 11 हजार रुपए जमा करने हैं?

जवाब: लोगों ने भले ही एक समय में लाखों रुपए निवेश किए हैं, लेकिन कंपनी के पास वो कई आईडी के रूप में पहुंचता था। ऐसे में कंपनी क्या कर सकती है।

Same news in English 

Raipur: The Speak Asia, Asia’s largest community of sovereign consumers, has washed its hand from the scheme that promised return of Rs 4000 a month and share of profit on an investment of Rs 11000.
Giving a shock to the number of investors, CEO of Speak Asia Tarak Vajpayee on Sunday told that the company had never launched any such scheme.    
Talking the investors, Vajpayee said that the company is just involved in online business. “Those who give business will get return,” said Vajpayee. 
"We do not say or believe that anyone can pay us Rs 11,000 and earn X amount of rupees. That is not our promise."
After media investigation into the false claims made by the firm, Vajpayee had earlier apologised for misleading subscribers.
For over a year now, the company has been collecting large sums of money, rapidly luring and enrolling lakhs of people all the time, assuring them of phenomenal returns, while all that they had to do was simply fill out some online surveys.
But suddenly Speak Asia is backtracking on all its get rich quick claims.
The latest development is bad news for over 19 lakhs people who have signed up and paid money to Speak Asia in the hope that it would multiply.
The police have already begun tightening the noose on the agents of Speak Asia, which has till now accumulated more than Rs 100 crore from people in Raipur and other cities in the state.
                                                                  
                                                           Click To Enlarge

Speak Asia Calls For Android Mobile Phones - 27 June 2011

Speak Asia Calls For Android Mobile Phones - 27 June 2011


Speak Asia Company start calling to Speak Asia Panelists for confirming postal Addresses
for Delivering ANDROID Mobile phones. Many Speak Asians Confirmed this news that they start Receiving calls from Speak Asia Call centers .

Now Speak Asian also expecting calls regarding Laptops and Malaysia Trip Awards..
delivery dates as well.

SpeakAsiaOnline New Website Preview

SpeakAsiaOnline New Website Preview

Breaking news for all, SpeakAsia is launching new website very soon.

Here is the preview of new website and the direct link is http://www.speakasiaonline.com/newsaol.htm.

This clearly shows the e-shopping facility of the SpeakAsia new website with lot of consumer product options. This is the answer to all those who were doubting in SpeakAsia. SpeakAsia Rocks

Launch Of New Website - SpeakAsia

Launch Of New Website - SpeakAsia

Categories: About Speak Asia, BizBasket, Speak Asia Online, SpeakAsia

Starting today, every Speakasian Can See The Below Image - This Is An Indication That The New Website Of SpeakAsia Will Be Seen And Accessible Very Soon

Speak Asia Rocks

Speakasia Seminar Lucknow 18th June

Speak Asia Will Become An Indian Company

Breaking News 
Hindustan Times - Lucknow Edition - 20th June - 3rd Page

Speak Asia Will Become An Indian Company

While addressing top business leaders in the city, Mr Taraj Bajpai assured panelists that the company would start paying back by the end of July

Mr Bajpai was asked few of the most burning questions by Hindustan Times and the answers has put all the panelists at ease.

When Is SpeakAsia Office Coming Up In India ?

When Would The Panelists Start Getting Money Back ?

People is the  cutting from Hindustan Times for those who could not get their hand on a copy.

Speak Asia Starting Video Surveys

Speak Asia Online recently in their Talkatora Stadium seminar said that they would be starting Video surveys soon and only few days after they started displaying examples of it on their official websitewww.speakasiaonline.com.

Check out this link: www.speakasiaonline.com/panelist/videoSurvey.aspx

{You will have to login to view the video survey}

What actually are Video surveys: You will have to view a video on some product and after some frequent interval of time you will be presented with a code that you would be required to enter in a text box below.

The code thing in between is to ensure that you watch full video and answer a simple question in the end.

See pics below:

घबराने की जरुरत नहीं

One Of The Daily Locals (Newspaper) in Lucknow also reports out positive about SpeakAsia.

They Say - 

GHABRAANE KI JARURAT NAHI

Latest Updates On Speakasia

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